What's Happening?
Avner Stepak, the chairman of Meitav Investment House, has overseen a period of extraordinary financial performance for the company. In 2025, Meitav's stock value increased by approximately 293%, nearly
quadrupling over the year, and has risen by about 1,070% over the past three years. This growth has positioned Meitav with a valuation of approximately 9.5 billion shekels. Stepak, who has taken a different path from his father, Zvi Stepak, focuses on risk management and long-term investment strategies. He emphasizes the importance of long-term investment over short-term trading, which he views as a losing proposition. Stepak's leadership is characterized by a commitment to public trust and economic security for ordinary Israelis, managing significant funds for pensions and long-term savings.
Why It's Important?
The success of Meitav under Avner Stepak's leadership highlights the potential for significant growth in the Israeli financial sector, even amid global market volatility. Stepak's approach underscores the importance of long-term investment strategies and risk management, which could serve as a model for other financial institutions. His focus on public trust and economic security aligns with broader societal goals, potentially influencing public policy and investment strategies in Israel. The influx of young investors and the resilience shown by Israeli investors during market volatility suggest a shift in investment behavior that could have long-term implications for the financial landscape.
What's Next?
Looking ahead, Stepak anticipates challenges in maintaining the momentum of Meitav's growth, as markets have already priced in much of the recovery. He forecasts a potential economic growth of 6% for Israel in 2026 but warns of the risks of widening inequality. Stepak advocates for reducing defense spending and reallocating resources to civilian infrastructure, such as education and healthcare, to address these disparities. His philanthropic efforts and focus on social initiatives aim to strengthen Israel's social fabric, suggesting a continued commitment to balancing financial success with social responsibility.
Beyond the Headlines
Stepak's leadership at Meitav reflects a broader trend of integrating ethical considerations into financial decision-making. His emphasis on long-term investment and public trust challenges conventional market orthodoxy and highlights the potential for financial institutions to play a role in addressing societal issues. The focus on reducing inequality and investing in public infrastructure could influence policy discussions in Israel, particularly in the context of post-war recovery and economic growth. Stepak's approach may inspire other leaders to consider the social impact of their financial strategies.
